Crypto market drops 4% as ETH ETFs outperform BTC, altcoins fall sharply

The global crypto market has taken a sharp turn in the past 24 hours. Total market capitalisation has dropped nearly 4% to around $3.51 trillion.

Almost every asset in the top 100 list is now showing losses. Bitcoin trades near $107,688, while Ethereum is around $2,736.

Altcoins are feeling the squeeze as well, with Dogecoin at $0.1877, Solana at $158, and Cardano at $0.6827.

Source: CoinMarketCap

Amid these declines, spot Ethereum ETFs in the US continue to attract larger inflows than Bitcoin ETFs—a shift that hints at deeper changes in investor behaviour.

Spot Ethereum ETFs attract more flows

US-listed spot Ethereum exchange-traded funds continue to outperform their Bitcoin equivalents. On 11 June, BlackRock’s ETH ETF brought in a one-day inflow of $160 million.

Ethereum ETFs in total pulled $240 million in net inflows.

Overall, Ethereum ETFs have seen cumulative inflows of $3.74 billion over 18 straight days.

Meanwhile, spot Bitcoin ETFs totalled $45.22 billion, but inflows for 11 June were a more modest $133 million.

The continuing strength of ETH ETF flows has coincided with Ethereum’s rebound from recent lows.

On-chain analysts interpret this as a sign of shifting sentiment, fuelled by the Pectra upgrade, increasing DeFi activity, and more favourable regulatory commentary from figures such as SEC Commissioner Paul Atkins.

Bitcoin and altcoins slide as volatility concerns rise

The broader downturn in crypto assets has been led by Bitcoin’s decline of around 1.68%, dragging it down from earlier highs near $110,350 to current levels near $107,688.

Ethereum lost about 4.29%, dipping from intraday highs of $2,868 to today’s $2,736.

Source: CoinMarketCap

Altcoins suffered deeper losses. Dogecoin fell roughly 7.5% to $0.1876, Solana dropped about 5–6% to $158, and Cardano slipped nearly 5.4% to $0.6827.

These declines reflect a market-wide pullback following softer US inflation data and renewed uncertainty stemming from US-China trade discussions.

On-chain data points to underpriced volatility risk

On-chain data highlights several warning signs. Much of the supply of Bitcoin is clustered close to current price levels.

When coins accumulate around a spot, even small flips in sentiment can trigger outsized moves.

Meanwhile, options markets appear complacent—implied volatility remains low, even as on-chain activity suggests increasing volatility risk.

Similarly, Ethereum options show subdued volatility pricing, despite its rebound and growing ETF interest.

Analysts suggest both chains may be underestimating potential spikes during events like regulatory developments or protocol changes.

Macro triggers and future direction

Crypto markets are reacting in step with macroeconomic trends. The increasing tensions in the Middle East and US President Donald Trump saying he would impose unilateral tariffs on trading partners within two weeks have fed into asset-price uncertainty.

Equities followed suit, with the Nasdaq-100 and S&P 500 falling 0.37% and 0.27% respectively, adding to crypto’s downward pressure.

However, Institutions continued with activities despite the market volatility. The Ant Group is advancing plans to launch stablecoins in Hong Kong, Singapore, and Luxembourg.

The US Senate also voted to proceed with a substitute amendment to the stablecoin-focused GENIUS Act.

These developments show that regulatory momentum in digital assets continues even amid price volatility.

Ethereum’s progress is further underpinned by the recently activated Pectra upgrade and influential endorsements from regulatory figures.

Meanwhile, Bitcoin maintains key technical levels. On-chain analysts highlight support at $97,600 and resistance near $115,400.

Investor sentiment has cooled somewhat, with the Crypto Fear and Greed Index easing from 65 into more neutral territory.

Yet on-chain data suggests selling remains limited.

Only around $200 million of realised losses have been recorded, indicating present declines have been absorbed by long-term holders.

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